Volume
45
Issue
3
21
* World Scale is a method for calculating freight prices. One point for the WS means 1% of the
standard price of freight in the direction in the WS book, which is published annually by the World
Scale Association. The book contains a list of prices in the form of US dollar per ton, called “World
Scale 100,” for all the major routes in the world.
Figure - 4
Monthly Spot Crude Oil Tanker Freight Rates, 2018 -2019
(World Scale)*
1-3 Spot Tanker Crude Freight Rates
In January 2019, Freight rates for crude oil for tanker size (230-280 thousand
deadweight tons (dwt)), leaving Middle Eastern ports to the East, decreased by 31
points or 35.6% comparing with previous month to reach 56 points on the World
Scale (WS*).
And freight rates for crude oil for tanker size (270-285 thousand deadweight
tons (dwt)), leaving Middle Eastern ports to the West, decreased by 14 points or
36.8% comparing with previous month to reach 24 points on the World Scale (WS),
freight rates for inter - Mediterranean for small to medium sized tankers (80-85
thousand deadweight tons (dwt)), decreased by 64 points or 32.8% comparing with
previous month to reach 131 points on the World Scale (WS).
Figure (4)
shows the freight rates for crude oil to all three destinations from
January 2018 to January 2019.
1-4 Spot Tanker Product Freight Rates
In January 2019, monthly spot Tanker freight rates for petroleum products [for
tanker size 30-35 thousand deadweight tons (dwt)], leaving Middle Eastern ports to
the East, decreased by 36 points, or 19.7% comparing with previous month to reach
147 points on WS.